Changpeng ‘CZ’ Zhao, CEO of Binance, has just tweeted in the past hour that Chinese-speaking communities are “buzzing” after China Central Television made a broadcast about Bitcoin.
“It’s a big deal,” he wrote on Twitter. “Historically, coverages like these led to bull runs.
“Not saying past predicts the future. And not financial advice.”
![](https://coinnews.com/wp-content/uploads/2023/05/Screenshot-2023-05-24-at-17.38.15-1024x577.png)
The tweet has since been viewed 981k times and retweeted more than 3,000 times – and rising.
China and crypto
The loosening of retail rules in China is a major landmark for the crypto market.
In 2021, China banned the use of cryptocurrencies and Bitcoin mining. But, from 1 June, retail investors in Hong Kong will be able to trade the market’s biggest players such as Bitcoin and Ethereum, according to a new rules announced by the city’s Securities and Futures Commission (SFC).
At the time of writing, the price of Bitcoin is trading at $26,199.01, down 3.71%, while ETH is down 3.41% to $1,787.29.
The global crypto market is currently down to $1.10tn – a rather steep fall of 3.32%.